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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill is tested annually for impairment at the reporting unit level during the fourth quarter or upon the occurrence of certain events or substantive changes in circumstances. There were no indicators of impairment as of March 31, 2025. The balance of the Company’s goodwill was $40.3 million as of March 31, 2025 and December 31, 2024. Intangible Assets The following table presents details of the Company’s intangible assets as of March 31, 2025 ($ in thousands):
| March 31, 2025
| Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation |  | Net Carrying Amount |  | Weighted Average Remaining Useful Life (In Years)
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |
Acquired and developed technology | $ | 37,367 |  |  | $ | (22,066) |  |  | $ | (2,331) |  |  | $ | 12,970 |  |  | 6.4
Customer relationships | 25,718 |  |  | (11,196) |  |  | (1,979) |  |  | 12,543 |  |  | 8.1
Commercialization rights | 11,579 |  |  | (6,075) |  |  | — |  |  | 5,504 |  |  | 4.3
Trademarks and tradenames | 5,220 |  |  | (2,190) |  |  | (293) |  |  | 2,737 |  |  | 8.3
Total intangible assets with finite lives | 79,884 |  |  | (41,527) |  |  | (4,603) |  |  | 33,754 |  |  |
Intangible assets with indefinite lives: |  |  |  |  |  |  |  |  |
Acquired in-process technology | 1,250 |  |  | — |  |  | — |  |  | 1,250 |  |  |
Favorable license agreement | 2,243 |  |  | — |  |  | — |  |  | 2,243 |  |  |
Total intangible assets with indefinite lives | 3,493 |  |  | — |  |  | — |  |  | 3,493 |  |  |
Total intangible assets | $ | 83,377 |  |  | $ | (41,527) |  |  | $ | (4,603) |  |  | $ | 37,247 |  |  |
The following table presents details of the Company’s intangible assets as of December 31, 2024 ($ in thousands):
| December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation |  | Net Carrying Amount |  | Weighted Average Remaining Useful Life (In Years)
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |
Acquired and developed technology | $ | 37,367 |  |  | $ | (21,357) |  |  | $ | (2,531) |  |  | $ | 13,479 |  |  | 6.6
Customer relationships | 25,718 |  |  | (10,777) |  |  | (2,332) |  |  | 12,609 |  |  | 8.4
Commercialization rights | 11,579 |  |  | (5,760) |  |  | — |  |  | 5,819 |  |  | 4.6
Trademarks and tradenames | 5,220 |  |  | (2,094) |  |  | (356) |  |  | 2,770 |  |  | 8.5
Total intangible assets with finite lives | 79,884 |  |  | (39,988) |  |  | (5,219) |  |  | 34,677 |  |  |
Intangible assets with indefinite lives: |  |  |  |  |  |  |  |  |
Acquired in-process technology | 1,250 |  |  | — |  |  | — |  |  | 1,250 |  |  |
Favorable license agreement | 2,257 |  |  | — |  |  | — |  |  | 2,257 |  |  |
Total intangible assets with indefinite lives | 3,507 |  |  | — |  |  | — |  |  | 3,507 |  |  |
Total intangible assets | $ | 83,391 |  |  | $ | (39,988) |  |  | $ | (5,219) |  |  | $ | 38,184 |  |  |
As of March 31, 2025, the Company did not identify any impairment triggering events that would indicate that the carrying value of the intangible assets was not recoverable. The following table summarizes the Company’s amortization expense of finite-lived intangible assets (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Cost of testing services | $ | 347 |  |  | $ | 329 |  |  |  |  |
Cost of product | 412 |  |  | 420 |  |  |  |  |
Cost of patient and digital solutions | 152 |  |  | 271 |  |  |  |  |
Sales and marketing | 628 |  |  | 633 |  |  |  |  |
Total | $ | 1,539 |  |  | $ | 1,653 |  |  |  |  |
The following table summarizes the Company’s estimated future amortization expense of intangible assets with finite lives as of March 31, 2025 (in thousands):
Years Ending December 31, |  |  |  |  |  |  |  |  |  | Total
Remainder of 2025 |  |  |  |  |  |  |  |  |  | $ | 4,709 |
2026 |  |  |  |  |  |  |  |  |  | 5,307 |
2027 |  |  |  |  |  |  |  |  |  | 5,294 |
2028 |  |  |  |  |  |  |  |  |  | 5,294 |
2029 |  |  |  |  |  |  |  |  |  | 4,579 |
Thereafter |  |  |  |  |  |  |  |  |  | 8,571 |
Total future amortization expense |  |  |  |  |  |  |  |  |  | $ | 33,754 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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